This chapter includes contents: Discuss the importance and basic principles of property insurance, including types of exposure, indemnity, and co-insurance; identify types of coverage provided by home owner’s insurance; select the right home owner’s insurance policy for your needs; Analyze the coverage in a personal automobile policy (PAP) and choose the most cost-effective policy; describe the other types of property and liability insurance; choose a property and liability insurance agent and company, and settle claims. | PFIN 4 Protecting Your Property 10 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. GITMAN/ JOEHNK/ BILLINGSLEY Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Discuss the importance and basic principles of property insurance, including types of exposure, indemnity, and co-insurance Identify types of coverage provided by home owner’s insurance Select the right home owner’s insurance policy for your needs Analyze the coverage in a personal automobile policy (PAP) and choose the most cost-effective policy LEARNING OUTCOMES PFIN4 | CH10 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Describe the other types of property and liability . | PFIN 4 Protecting Your Property 10 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. GITMAN/ JOEHNK/ BILLINGSLEY Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Discuss the importance and basic principles of property insurance, including types of exposure, indemnity, and co-insurance Identify types of coverage provided by home owner’s insurance Select the right home owner’s insurance policy for your needs Analyze the coverage in a personal automobile policy (PAP) and choose the most cost-effective policy LEARNING OUTCOMES PFIN4 | CH10 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Describe the other types of property and liability insurance Choose a property and liability insurance agent and company, and settle claims LEARNING OUTCOMES (continued) PFIN4 | CH10 Basic Principles of Property Insurance Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Property insurance Protects real and personal property from losses caused by various perils Liability insurance Protects against financial consequences from the insured’s responsibility for property loss PFIN4 | CH10 Types of Exposure Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Exposure to property loss Property insurance contracts define: Property covered Perils: Cause of loss Property inventory Identifying perils Liability Negligence: Failing to act in a reasonable manner PFIN4 | CH10 Principle of Indemnity Copyright .
